On Wednesday and Thursday, the Santiago Bernabéu stadium in Madrid will host one of the most anticipated musical events of the year, the concert by the American artist Taylor Swift, which will bring together more than 100,000 people in Madrid, of which the 30% will be national and international tourists, according to the forecasts of Hostelería Madrid, the association that represents businesses in the sector in the autonomous community.
Given this data, Hostelería Madrid expects that businesses dedicated to tourist accommodation, as well as restaurants and bars in the capital, will experience a peak turnover of ten million euro during the two days. Specifically, each concert will bring together around 52,000 attendees, who will spend an average of 20 euro per person in businesses near the Santiago Bernabéu stadium.
This consumption will be even greater in the case of national and international tourists, who will come to the city to attend the Taylor Swift concert. In this regard, Hostelería Madrid estimated that each person will spend an average of 280 euro per day, between accommodation, restaurants and leisure in the capital, with an average stay of two days. Therefore, each foreign attendee will spend more than 500 euro in business.
Given these forecasts, Hostelería Madrid positively valued the arrival of the American artist to the Spanish capital, which will undoubtedly have a positive impact on the turnover of hospitality businesses in Madrid, many of which are run by self-employed people.
Sadly, had the concert not been held in Madrid, it might have worth a lot more to the local economy. In Torrevieja last year, the town hall estimated that their summer concerts attracting 85,000 people would be worth 12 million euro. Unfortunately, as The Leader newspaper pointed out, the figures from Torrevieja town hall simply didn’t add up, and when you realise the reality of what the country’s capital expects, the propaganda from the likes of Torrevieja town hall is further highlighted as false.
